Brokerages Set InMode Ltd. (NASDAQ:INMD) Target Price at $16.80

InMode Ltd. (NASDAQ:INMD) has been given an average recommendation of “Hold” by the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $16.80.

A number of research analysts have recently commented on the company. Robert W. Baird set a $17.00 target price on InMode in a research report on Wednesday, February 11th. Wall Street Zen downgraded shares of InMode from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group dropped their price objective on shares of InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. BTIG Research restated a “neutral” rating on shares of InMode in a report on Monday, January 26th. Finally, Canaccord Genuity Group set a $15.00 price target on shares of InMode and gave the company a “hold” rating in a report on Wednesday, December 17th.

InMode Stock Performance

INMD opened at $13.98 on Friday. The stock has a market capitalization of $885.77 million, a price-to-earnings ratio of 9.71 and a beta of 2.19. The company has a fifty day moving average of $14.68 and a 200 day moving average of $14.72. InMode has a fifty-two week low of $13.14 and a fifty-two week high of $19.78.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Tuesday, February 10th. The healthcare company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. InMode had a net margin of 25.33% and a return on equity of 14.52%. The business had revenue of $103.85 million during the quarter, compared to the consensus estimate of $104.64 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that InMode will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On InMode

Institutional investors have recently modified their holdings of the stock. Leonteq Securities AG bought a new position in shares of InMode during the 4th quarter valued at approximately $26,000. Quadrant Capital Group LLC boosted its stake in InMode by 127.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock worth $29,000 after buying an additional 1,091 shares during the period. Advisory Services Network LLC purchased a new position in InMode during the third quarter worth $37,000. Basepoint Wealth LLC bought a new position in InMode during the fourth quarter valued at $39,000. Finally, Blue Trust Inc. raised its stake in shares of InMode by 93.7% in the third quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock valued at $43,000 after acquiring an additional 1,384 shares during the period. 68.04% of the stock is owned by institutional investors.

About InMode

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.